On February 28, 2024 Schrödinger, Inc. (Nasdaq: SDGR), whose physics-based computational platform is transforming the way therapeutics and materials are discovered, reported financial results for the fourth quarter and full-year ended December 31, 2023, and provided its financial outlook for 2024 (Press release, Schrodinger, FEB 28, 2024, View Source [SID1234640612]).

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"I am very pleased with the progress we made in 2023, delivering 20 percent total revenue growth and reporting our largest quarter for software revenue in our history. We also advanced our pipeline of collaborative and proprietary programs and were pleased to see companies we co-founded achieve significant corporate and development milestones, further validating our platform," said Ramy Farid, Ph.D., chief executive officer of Schrödinger. "Looking ahead, we are continuing to focus on investing in the science that underlies our platform, increasing customer adoption, and advancing our proprietary pipeline, which now includes two clinical-stage programs. We expect data readouts from our first two patient studies in late 2024 or 2025 and are on track to progress a third program to the clinic this year."

Fourth Quarter 2023 Financial Results
•Total revenue for the fourth quarter increased 30.4% to $74.1 million, compared to $56.8 million in the fourth quarter of 2022.
•Software revenue for the fourth quarter increased 43.6% to $68.7 million, compared to $47.8 million in the fourth quarter of 2022. Multi-year agreements contributed significantly to revenue in the quarter with additional contribution from larger renewals of annual contracts among existing customers.
•Drug discovery revenue was $5.5 million for the fourth quarter, compared to $9.0 million in the fourth quarter of 2022. The decrease reflects collaboration milestones that favorably impacted the fourth quarter of 2022.
•Software gross margin increased to 87% for the fourth quarter, compared to 83% in the fourth quarter of 2022.
•Operating expenses were $87.2 million for the fourth quarter, compared to $67.2 million for the fourth quarter of 2022.
•Other expense, which includes changes in fair value of equity investments and interest income/expense, was $1.9 million for the fourth quarter, compared to other income of $1.2 million for the fourth quarter of 2022.
•Net loss for the fourth quarter was $30.7 million, compared to $27.2 million in the fourth quarter of 2022.

Three Months Ended
December 31,
2023 2022 % Change
(in millions)
Total revenue $ 74.1 $ 56.8 30.4%
Software revenue 68.7 47.8 43.6%
Drug discovery revenue 5.5 9.0 (39.4)%
Software gross margin 87 % 83 %
Operating expenses $ 87.2 $ 67.2 29.6%
Other (expense) income $ (1.9) $ 1.2 (258.4)%
Net loss $ (30.7) $ (27.2) 12.7%

Full Year 2023 Financial Results
•Total revenue for the full year increased 19.7% to $216.7 million, compared to $181.0 million for 2022.
•Software revenue for the full year increased 17.4% to $159.1 million, compared to $135.6 million for 2022. Multi-year agreements contributed significantly to revenue growth with additional contribution from larger renewals of annual contracts among existing customers.
•Drug discovery revenue for the full year was $57.5 million compared to $45.4 million for 2022. The first quarter of 2023 included a $25.0 million milestone from BMS.
•Software gross margin was 81% for the full year, compared to 78% for 2022.
•Operating expenses were $318.1 million for the full year, compared to $247.8 million for 2022, primarily due to higher research and development expense.
•Other income, which includes gains/loss on equity investments, changes in fair value of such investments and interest income/expense, was $220.4 million for the full year, compared to other expense of $2.3 million for 2022.
•Net income for the full year was $40.7 million, compared to a loss of $149.2 million for 2022.
•At December 31, 2023, Schrödinger had cash, cash equivalents, restricted cash and marketable securities of approximately $468.8 million, compared to approximately $502.5 million at September 30, 2023 and $456.3 million at December 31, 2022. In the first half of 2023, Schrödinger received $147.2 million in cash distributions from Nimbus Therapeutics in connection with Takeda’s acquisition of Nimbus Lakshmi, Inc., a wholly-owned subsidiary of Nimbus, and its tyrosine kinase 2 inhibitor.

Twelve Months Ended
December 31,
2023 2022 % Change
(in millions)
Total revenue $ 216.7 $ 181.0 19.7%
Software revenue 159.1 135.6 17.4%
Drug discovery revenue 57.5 45.4 26.8%
Software gross margin 81 % 78 %
Operating expenses $ 318.1 $ 247.8 28.4%
Other income (expense) $ 220.4 $ (2.3) (9,643.8)%
Net income (loss) $ 40.7 $ (149.2) (127.3)%

For the three and twelve months ended December 31, 2023, Schrödinger reported a net loss of $30.7 million and net income of $40.7 million, respectively, compared to net losses of $27.2 million and $149.2 million for the three and twelve months ended December 31, 2022, respectively.

For the three and twelve months ended December 31, 2023, Schrödinger reported non-GAAP net losses of $23.0 million and $157.8 million, respectively, compared to non-GAAP net losses of $25.9 million and $142.9 million for the three and twelve months ended December 31, 2022, respectively. See "Non-GAAP Information" below and the table at the end of this press release for a reconciliation of non-GAAP net income (loss) to GAAP net income (loss).

Full Year 2023 Key Performance Indicators (KPIs)
Schrödinger today reported 2023 key performance indicators for both the software and drug discovery components of its business.

Software. Total annual contract value (ACV) increased 9.7% to $154.2 million, and the ACV of Top 10 customers also increased 9.7% to $51.0 million. The number of customers with an ACV of at least $1 million increased to 27 from 18, and the number of customers with an ACV of at least $5 million was unchanged at four. Schrödinger’s customer retention rate among customers with an ACV of at least $500,000 was 98% and the number of such customers increased from 52 to 54.

Drug discovery. Schrödinger ended 2023 with 12 ongoing programs eligible for royalties, compared to 15 the previous year. For the year ended December 31, 2023, the number of collaborators since 2018 was unchanged at 17.

Software KPI 2023 2022
Total annual contract value (ACV) $154.2 million $140.6 million
ACV of Top 10 customers $51.0 million $46.5 million
Number of customers with at least $5M in ACV 4 4
Number of customers with at least $1M in ACV 27 18
Number of customers with at least $500,000 in ACV 54 52
Number of customers with at least $100,000 in ACV 222 227
Customer retention rate with at least $500,000 in ACV 98% 100%
Customer retention with at least $100,000 ACV 92% 96%
Number of active customers with ACV of at least $1,000 1,785 1,748

Drug Discovery KPI 2023 2022
Ongoing programs eligible for royalties 12 15
Number of collaborators since 2018 17 17

For additional information about the company’s KPIs, see "Operating Metrics" below.

2024 Financial Outlook
As of February 28, 2024, Schrödinger provided the following expectations for the fiscal year ending December 31, 2024:
•Software revenue growth is expected to range from 6% to 13%.
•Drug discovery revenue is expected to range from $30 million to $35 million.
•Software gross margin is expected to be similar to software gross margin for the full year 2023.
•Operating expense growth in 2024 is expected to range from 8% to 12%.
•Cash used for operating activities in 2024 is expected to be above cash used for operating activities in 2023.

For the first quarter of 2024, software revenue is expected to range from $33 million to $35 million.
"We had a very strong year in 2023, with significant growth in our software and drug discovery revenue and substantial progress in our proprietary pipeline and at our co-founded companies. In 2023 we benefited from the renewal of large contracts with long-term software customers, as well as a significant increase in the number of customers with annual contract values over $1 million," stated Geoff Porges, MBBS, chief financial officer of Schrödinger. "We see many opportunities to drive continuing software revenue growth in 2024 and beyond, and are very excited by the value we are building in our proprietary portfolio, and in our ventures and partnerships".

Key Highlights
Platform

•In February, Schrödinger scientists published commentary in Cell describing how free energy perturbation (FEP+) can be used to validate and optimize ML-predicted structures, increasing the number of targets that can be evaluated and enabling computational drug design against an increasing number of targets and off-targets such as hERG.

•In December, Schrödinger scientists co-authored a paper describing the application of induced-fit docking and FEP+ to significantly improve the utility of predicted structures of certain GPCRs. GPCRs

are an important class of drug targets; however, obtaining experimental GPCR structures has been historically challenging. This research demonstrates the potential to leverage predicted structures, further expanding the domain of applicability for Schrödinger’s platform.

•In November, Schrödinger and AbbVie scientists published a paper demonstrating that FEP+ can be used to accurately predict the thermodynamic aqueous solubility of small molecules, a critical attribute of drug candidates that can impact efficacy and drug formulation. Schrödinger’s FEP+ exhibited better correlations to experimental solubility compared to state-of-the-art machine learning approaches.

Pipeline
•In December, Schrödinger presented initial data showing that its novel MALT1 inhibitor, SGR-1505, was well tolerated in a Phase 1 study of 73 healthy volunteers. No drug-related serious adverse events or dose limiting toxicities were observed in the study. The data also confirmed target engagement, with greater than 90 percent inhibition of IL-2 secretion in activated T cells, a pharmacodynamic goal of the study.

Schrödinger presented preclinical data for SGR-1505 at the American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting in December. The data demonstrated that SGR-1505 has favorable attributes and the potential for combination activity with standard-of-care agents in B-cell malignancies. The company also presented preliminary clinical biomarker information for SGR-1505, showing pharmacodynamic evidence of MALT1 inhibition.

The company continues to advance the Phase 1 dose-escalation study of SGR-1505 in relapse/refractory B-cell malignancy patients, and enrollment is ongoing in the U.S. and EU. The company expects to report initial data from this study in late 2024 or 2025.

•Also at ASH (Free ASH Whitepaper), Schrödinger presented preclinical data for SGR-2921, its CDC7 inhibitor, showing the anti-proliferative effects of SGR-2921 in treatment-resistant acute myeloid leukemia (AML) patient-derived samples, as well as reduction of blasts in multiple AML models. A Phase 1 study of SGR-2921 is ongoing in patients with AML or myelodysplastic syndrome, and the company expects to report initial data from the study in late 2024 or 2025.

•Schrödinger continues to progress SGR-3515, its Wee1/Myt1 inhibitor, through IND-enabling activities and expects an IND submission in the first half of 2024 and start a Phase 1 trial in the second half of 2024.

•Schrödinger is advancing its discovery pipeline, including three recently disclosed novel medicines targeting EGFRC797S, PRMT5-MTA and NLRP3. The company continues to anticipate submitting at least one IND in 2025.

Webcast and Conference Call Information
Schrödinger will host a conference call to discuss its fourth quarter and full year 2023 financial results on Wednesday, February 28, 2024, at 4:30 p.m. ET. The live webcast can be accessed under "News & Events" in the investors section of Schrödinger’s website, View Source To participate in the live call, please register for the call here. It is recommended that participants register at least 15 minutes in advance of the call. Once registered, participants will receive the dial-in information. The archived webcast will be available on Schrödinger’s website for approximately 90 days following the event.

On February 28, 2024 Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on changing the possible for patients through engineered cells, reported that it will webcast its presentation at the Cowen 44th Annual Health Care Conference at 2:50 p.m. ET on Wednesday, March 6, 2024 (Press release, Sana Biotechnology, FEB 28, 2024, https://ir.sana.com/news-releases/news-release-details/sana-biotechnology-present-cowen-44th-annual-health-care [SID1234640609]). The presentation will feature a business overview and update by Steve Harr, Sana’s President and Chief Executive Officer.

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The webcast will be accessible on the Investor Relations page of Sana’s website at View Source A replay of the presentation will be available at the same location for 30 days following the conference.

On February 28, 2024 PharmaMar (MSE:PHM) reported total revenues of €158.2 million in 2023, compared with €196.3 million in the same period of the previous year (Press release, PharmaMar, FEB 28, 2024, View Source [SID1234640607]). Recurring revenues, which result from the sum of net sales plus royalties on sales made by our partners, totaled €124.1 million, compared with €156.0 million in 2022. These changes in revenues are mainly due to the introduction of generic trabectedin (Yondelis) products on the European market, which has put significant pressure on prices. Thus, Yondelis recorded net sales of €26.1 million at December 31st, 2023, compared with the €63.8 million reported the previous year.

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Revenues from Zepzelca (lurbinectedin) continued to grow. Both revenues in Europe and royalties from sales in the US recorded significant increases. Revenues from the early access program grew to €29.7 million at year-end, compared with €15.5 million in 2022. These revenues come mainly from France, although other early access programs are also open in countries such as Spain and Austria.

The increase in Zepzelca’s revenues in Europe reflects a positive adjustment made by the French authorities in relation to the previous year’s discounts.

In addition, revenues in Europe in 2023 reflect the first sales of Zepzelca in Switzerland since its commercial launch in the second half of the year.

The sale of raw materials of both Yondelis and Zepzelca to our partners is also included in recurring revenues. These sales reported revenues of €14.9 million at the end of 2023, compared with €21.4 million reported in the previous year. This difference is mainly due to the accumulation of stocks that some of our partners carried out in 2022.

It is important to highlight the growth in royalty revenues, which amounted to €52.2 million in fiscal year 2023. This revenue mainly includes royalties received from our partner Jazz Pharmaceuticals for lurbinectedin sales in the US, which amounted to €48.4 million, compared with the €46.9 million reported in 2022. Excluding the currency effect, royalty growth stood at 8%.

In addition to the royalties received from Jazz Pharmaceuticals, royalties on Yondelis sales from our partners in the US and Japan totaled €3.8 million in 2023, compared with €3.4 million in 2022.

Non-recurring revenues from licensing agreements amounted to €33.6 million at year-end 2023, compared with €40.2 million in the previous year. Most of this revenue came from Zepzelca licensing agreements for a total of €24.2 million, to which must be added the €9.4 million recorded in the last quarter of 2023 for the fulfillment of a commercial milestone under the contract signed with Janssen (Johnson & Johnson) for Yondelis in the United States.

At December 31st, 2023, R&D expenditure amounted to €99.3 million, an increase of 19% compared with the previous year. Of the total R&D investment in 2023, the amount earmarked for the oncology segment increased to €83.6 million compared with €68.1 million in 2022. This increase is largely related to the confirmatory Phase III trial of lurbinectedin in Small Cell Lung Cancer, called LAGOON, which is progressing in patient recruitment and where an additional effort is being made to open new centers. Part of this investment was also designated for a Phase IIb/III trial with lurbinectedin for the first-line treatment of Leiomyosarcoma, which began in the last quarter of the year. The Company continues to invest in the clinical development of other molecules at earlier stages. A Phase II clinical trial is under way with ecubectedin for solid tumors, and Phase I clinical trials are also under way with ecubectedin, PM534 and PM54 for the treatment of solid tumors.

Despite the pressure on Yondelis sales prices and the growing R&D effort, PharmaMar reported net income of €1.1 million at the end of 2023.

At 31st December 2023, PharmaMar Group had a cash and cash equivalents position of €168.6 million and a total debt of €39.9 million, which translates into net cash of €128.8 million. This cash position already reflects dividends paid and the €15 million acquisition in treasury stock, which the Company completed in January of this year 2024.

The Board of Directors of Pharma Mar, S.A. will propose to the General Shareholders’ Meeting the distribution of a dividend of €0.65 per outstanding share that will be charged to unrestricted reserves (share premium), with a maximum distribution amount set at 11,930,689.55 Euros.

PharmaMar Results Conference Call for Investors and Analysts

PharmaMar management will host a conference call and webcast for investors and analysts on Thursday February 29th, 2024 at 13:00 (CET).

The numbers to connect to the teleconference are: +34 91 901 16 44 (from Spain), +1 646 664 1960 (from the US or Canada) or +44 20 3936 2999 (other countries). Participants’ access code: 889062. Interested parties can also follow the webcast live via the following link: View Source

A recording of the teleconference can be accessed on PharmaMar’s website by visiting the Events Calendar section of the Company’s website www.pharmamar.com

On February 28, 2024 Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, reported its financial results for the fourth quarter and year ended Dec. 31, 2023 (Press release, Castle Biosciences, FEB 28, 2024, View Source [SID1234640601]).

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"2023 was another exceptional year, with strong top-line growth and test report volume growth, driven in large part by consistent execution by the entire Castle team," said Derek Maetzold, president and chief executive officer of Castle Biosciences. "I am extremely pleased with the continued success we saw from careful investments in our initiatives. We expanded our body of evidence, with data further demonstrating the potential of our tests to improve patient outcomes, including increased survival. In addition, our foundational dermatology business continued to expand solidly, and growth in our TissueCypher Barrett’s Esophagus test outpaced our expectations.

"In our commitment to ongoing evidence development, we are exceptionally proud of the progress we have made regarding DecisionDx-Melanoma. The independent risk-stratification provided by this test has already been demonstrated in numerous retrospective and prospective studies, is supported with 50 peer-reviewed publications, and has been studied in more than 10,000 patients. In 2023, there were two critical peer-reviewed publications demonstrating an association with DecisionDx-Melanoma testing and improved patient outcomes. The first study demonstrated that testing with DecisionDx-Melanoma was associated with lower melanoma-specific and overall mortality relative to untested patients (Bailey et al.), and the second demonstrated that patients who received routine imaging after high-risk DecisionDx-Melanoma test scores had an earlier recurrence diagnosis with lower tumor burden, leading to better clinical outcomes, including improved overall survival (Dhillon et al.). DecisionDx-Melanoma is the only melanoma prognostic test shown to be associated with improved patient survival.

"We are optimistic about continued commercial momentum in 2024 and will continue to focus on the needs of the patients and clinicians who drive our business."

Twelve Months Ended Dec. 31, 2023, Financial and Operational Highlights
•Revenues were $219.8 million, a 60% increase compared to $137.0 million in 2022. Included in revenue for the year were revenue adjustments related to tests delivered in prior periods. These prior period revenue adjustments for the twelve months ended Dec. 31, 2023, were $4.5 million of net negative revenue adjustments, compared to $2.0 million of net negative revenue adjustments for 2022.
•Adjusted revenues, which exclude the effects of revenue adjustments related to tests delivered in prior periods, were $224.3 million, a 61% increase compared to $139.0 million in 2022.
•Delivered 70,429 total test reports in 2023, an increase of 59% compared to 44,419 in 2022:
◦DecisionDx-Melanoma test reports delivered in 2023 were 33,330, compared to 27,803 in 2022, an increase of 20%.
◦DecisionDx-SCC test reports delivered in 2023 were 11,442, compared to 5,967 in 2022, an increase of 92%.

◦MyPath Melanoma and DiffDx-Melanoma test reports delivered in 2023 were 3,962, compared to 3,561 in 2022, an increase of 11%.
◦TissueCypher Barrett’s Esophagus test reports delivered in 2023 were 9,100, compared to 2,128 in 2022, an increase of 328%.
◦IDgenetix test reports delivered in 2023 were 10,921, compared to 3,249 in 2022, an increase of 236%.
◦DecisionDx-UM test reports delivered in 2023 were 1,674, compared to 1,711 in 2022, a decrease of 2%.
•Gross margin for 2023 was 75%, and adjusted gross margin was 80%, compared to 71% and 77% respectively for the same periods in 2022.
•Net cash used in operations was $5.6 million, compared to $41.7 million in 2022.
•Net loss for 2023, which includes non-cash stock-based compensation expense of $51.2 million, was $57.5 million, compared to $67.1 million in 2022.
•Adjusted EBITDA for 2023 was $(4.4) million, compared to $(42.6) million in 2022.
Cash, Cash Equivalents and Marketable Investment Securities
As of Dec. 31, 2023, the Company’s cash, cash equivalents and marketable investment securities totaled $243.1 million.
Fourth Quarter Ended Dec. 31, 2023, Financial and Operational Highlights
•Revenues were $66.1 million, a 72% increase compared to $38.3 million during the same period in 2022. Included in revenue for the period were revenue adjustments related to tests delivered in prior periods. These prior period revenue adjustments for the quarter were $4.1 million of net negative revenue adjustments, compared to $0.8 million of net positive revenue adjustments for the same period in 2022.
•Adjusted revenues, which exclude the effects of revenue adjustments related to tests delivered in prior periods, were $70.2 million, an 87% increase compared to $37.5 million for the same period in 2022.
•Delivered 20,284 total test reports, an increase of 60% compared to 12,644 in the same period of 2022:
◦DecisionDx-Melanoma test reports delivered in the quarter were 8,591, compared to 7,301 in the fourth quarter of 2022, an increase of 18%.
◦DecisionDx-SCC test reports delivered in the quarter were 3,530, compared to 1,845 in the fourth quarter of 2022, an increase of 91%.
◦MyPath Melanoma test reports delivered in the quarter were 1,018, compared to 822 MyPath Melanoma and DiffDx-Melanoma aggregate test reports in the fourth quarter of 2022, an increase of 24%.
◦TissueCypher Barrett’s Esophagus test reports delivered in the quarter were 3,441, compared to 1,030 in the fourth quarter of 2022, an increase of 234%.
◦IDgenetix test reports delivered in the quarter were 3,299, compared to 1,214 in the fourth quarter of 2022, an increase of 172%.
◦DecisionDx-UM test reports delivered in the quarter were 405, compared to 432 in the fourth quarter of 2022, a decrease of 6%.
•Gross margin was 78%, and adjusted gross margin was 82%, compared to 69% and 75% respectively for the same periods in 2022.
•Net cash provided by operations was $18.6 million, compared to net cash used in operations of $6.0 million for the same period in 2022.
•Net loss, which includes non-cash stock-based compensation expense of $11.8 million, was $2.6 million, compared to a net loss of $20.6 million for the same period in 2022.
•Adjusted EBITDA was $9.4 million, compared to $(10.4) million for the same period in 2022.
2024 Outlook
The Company anticipates generating between $235-240 million in total revenue in 2024.

Fourth Quarter and Recent Accomplishments and Highlights
Dermatology
•DecisionDx-Melanoma: In December 2023, the Company announced the publication of a study in the Journal of the Advanced Practitioner in Oncology that assessed the viewpoints of nurse practitioners and physician assistants (NPs/PAs) toward the clinical use of DecisionDx-Melanoma in patients diagnosed with cutaneous melanoma (CM). The study found that more than 90% of the NPs/PAs who completed a survey about DecisionDx-Melanoma believe that prognostic (i.e., risk-stratification) information about a patient’s melanoma is valuable and improves patient care. See the Company’s news release from Dec. 1, 2023, for more information.
•DecisionDx-Melanoma: In February 2024, the Company announced the publication of a study in Cancers demonstrating that DecisionDx-Melanoma provided significantly better risk stratification than American Joint Committee on Cancer 8th Edition (AJCC8) staging in patients with stage I CM. This study reports the results of two large stage I cohorts, including 5,561 patients from the National Cancer Institute’s Surveillance, Epidemiology and End Results (SEER) Program Registries. It supports incorporating the DecisionDx-Melanoma test into clinical practice to help clinicians and patients with stage I melanoma obtain more precise information about a patient’s risk of disease progression to inform more personalized, risk-aligned treatment and surveillance management plans.
•DecisionDx-SCC: In January 2024, the Company announced the publication of a new study in the Journal of Clinical and Aesthetic Dermatology (JCAD), which found that guiding adjuvant radiation treatment (ART) using DecisionDx-SCC results can lead to substantial Medicare healthcare savings of up to approximately $972 million annually. This cost reduction is primarily attributed to avoiding direct costs of unnecessary ART in patients with low-risk DecisionDx-SCC profiles and the appropriate selection of patient treatment based on molecular risk assessment. Additionally, integrating the objective DecisionDx-SCC test into the management of ART-eligible high-risk cutaneous squamous cell carcinoma (SCC) can identify those who may safely avoid ART who would, therefore, have reduced complications, a net improvement in health outcomes and reduced cost in the Medicare population. See the Company’s news release from Jan. 18, 2024, for more information.
•DecisionDx-SCC: In February 2024, the Company announced the publication of an expert consensus article in JCAD related to its DecisionDx-SCC test. The expert multidisciplinary panel included radiation oncologists and dermatologists/Mohs micrographic surgeons with expertise in SCC management and provides risk-based clinical recommendations and a workflow for use of ART in patients with high-risk SCC to control disease progression. The suggested workflow integrates DecisionDx-SCC testing and AJCC8 staging, based on clinicopathologic risk factors, with the current National Comprehensive Cancer Network (NCCN) guidelines to improve precision in ART recommendations based on which patients are at the highest risk for metastasis and most likely to benefit from treatment.
•In February 2024, the Company was notified that a new study, titled "Inconsistent associations between risk factor profiles and adjuvant radiation therapy (ART) treatment in patients with cutaneous squamous cell carcinoma and utility of the 40-gene expression profile to refine ART guidance," was accepted for publication in Dermatology and Therapy. The study shows that including tumor biology-based risk stratification from the DecisionDx-SCC test in ART decisions can refine risk and identify appropriate SCC patients who are likely to benefit from ART treatment, as well as those who can consider deferring it.
•In February 2024, the Company was notified that a new study, titled "Integrating the 40-gene expression profile (40-GEP) test improves metastatic risk-stratification within clinically relevant subgroups of high-risk cutaneous squamous cell carcinoma (cSCC) patients," was accepted for publication in Dermatology and Therapy. The study of 897 patients analyzed the independent performance of DecisionDx-SCC from risk factors and staging systems, and demonstrated improved predictive accuracy when integrated with the NCCN, Brigham and Women’s Hospital (BWH) and AJCC8 clinicopathologic risk assessment systems to significantly enhance risk-aligned treatment for patients.
Gastroenterology
•In October 2023, the Company announced new data demonstrating the significant clinical utility of its TissueCypher Barrett’s Esophagus test in guiding risk-aligned upstaging of care for patients with non-dysplastic Barrett’s esophagus (BE) at a higher risk of progression to high-grade dysplasia or

esophageal adenocarcinoma than indicated by their clinicopathologic risk factors. See the Company’s news release from Oct. 2, 2023, for more information.
Mental Health
•In November 2023, the Company announced data from a single-site, open-label study demonstrating the consistent impact of IDgenetix on medication response and remission rates in patients with major depressive disorder (MDD). The study found that real-world patient outcomes were strongly aligned to the results of a previously published randomized controlled trial that demonstrated IDgenetix-guided medication management significantly improved response and remission rates for patients with MDD. See the Company’s news release from Nov. 8, 2023, for more information.
Pipeline Initiatives
•Uveal Melanoma: In November 2023, the Company announced new discovery data from an ongoing study exploring the potential for developing a minimally invasive test, complementary to DecisionDx-UM, to evaluate small, suspicious lesions of uncertain malignant potential in patients’ eyes. See the Company’s news release from Nov. 3, 2023, for more information.
•Inflammatory Skin Disease: In November 2023, the Company announced new data showing the ability of its pipeline test in development to distinguish between responders and non-responders to an atopic dermatitis (AD) therapy and also distinguish between AD, psoriasis (PSO) and mycosis fungoides (MF) skin lesions. Additional updates regarding development of this pipeline program are expected in 2024. See the Company’s news release from Nov. 2, 2023, for more information.
Corporate
•In November 2023, the Company announced that it was named a Houston Chronicle Top Workplace for the third year in a row and awarded three new Culture Excellence awards, recognizing the Company in the areas of Employee Appreciation, Employee Well-Being and Professional Development. See the Company’s news release from Nov. 13, 2023, for more information.
•In January 2024, the Company announced that its chief operating officer, Kristen Oelschlager, was named to The Healthcare Technology Report’s Top 25 Women Leaders in Biotechnology of 2023. The honorees "stand as a driving force, ensuring diverse perspectives on scientific breakthroughs and groundbreaking therapies," according to the publication. See the Company’s news release from Jan. 9, 2024, for more information.
Conference Call and Webcast Details
Castle Biosciences will hold a conference call on Wednesday, Feb. 28, 2024, at 4:30 p.m. Eastern time to discuss its fourth quarter and full-year 2023 results and provide a corporate update.

A live webcast of the conference call can be accessed here: View Source
or via the webcast link on the Investor Relations page of the Company’s website,
View Source Please access the webcast at least 10 minutes before the conference call start time. An archive of the webcast will be available on the Company’s website until March 20, 2024.

To access the live conference call via phone, please dial 833 470 1428 from the United States, or +1 404 975 4839 internationally, at least 10 minutes prior to the start of the call, using the conference ID 036526.

There will be a brief Question & Answer session following management commentary.

On February 28, 2024 Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, reported that management will participate in a fireside chat at the TD Cowen 44th Annual Health Care Conference on Wednesday, March 6, 2024 at 9:50 am ET in Boston (Press release, Protara Therapeutics, FEB 28, 2024, View Source [SID1234640600]).

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A live webcast of the fireside chat can be accessed by visiting the Events and Presentations section of the Company’s website: View Source The webcast will be archived for a limited time following the presentation.